USA Technologies Inc (USAT)

[Gileon7]

USAT over billed coke, then coke sued. USAT said the suit was baseless.

Now from the financial report.

“As of September 30, 2014, the Company has accrued approximately $690,000 representing estimated obligations of the Company in connection with a customer billing dispute and is included in Accounts Payable in the Consolidated Balance Sheets. Approximately $280,000 of this amount was recorded in fiscal 2014 and $410,000 of this amount was recorded in the three months ended September 30, 2014 and is reflected in Cost of Services in the Consolidated Statements of Operations.“

I guess the suit had merit after all.